Accounting
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How to Set Up Accounting Rules
The first rule in accounting is the principle of crediting the giver. This means that when a person buys a piece of land, the seller will record the cost of the land at its purchase price. This is true regardless of whether or not the land is worth more today. It is possible, however, to […]
Business
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The Definition of a Business
A business can be defined in two ways. It can be an industry-specific operation or an enterprise with an interdisciplinary focus, including various industries. In the past, a business was primarily defined by its profit potential. Nowadays, the definition of a business includes the service it offers as well. There are many different types of […]
